Tritax Acquires Two Logistics Facilities For £115M
Tritax Big Box REIT bought two logistics facilities at Birch Coppice, Birmingham, and at Warth Park, Raunds, Northamptonshire. The combined purchase price was £115.5M. Tritax anticipates buying a third asset in the near term.
The 780k SF facility at Birch Business Park is let to Euro Car Parts. Tritax paid just over £80M. Completed in January 2016, the property has benefited from significant capital investment from the tenant.
Tritax paid about £35M for the facility at Warth Park, which is let to Whirlpool. The facility was completed in 2001 and is over 473k SF. Whirlpool extended the unit by 150k SF in 2006.